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Tirupur: Knitwear industrialists were relieved after the central board of indirect tax and customs (CSIC) clarified that they could claim refund of Integrated Goods and Service Tax (IGST) for exported goods even if they had imported capital goods under the Export Promotion Capital Goods (EPCG) scheme.

“The central government had amended 96 (10) rule of CGST on September 4. It said the exporters who import their requirements without payment of IGST are not eligible for refund of IGST paid on exports of goods. But the CSIC clarified that the exporters can claim refund of IGST for the exported goods if they import capital goods under the EPCG scheme. 

However, the relief was not extended in case of import of goods like fabrics. The central government should come forward to extend the relief to import of other goods too,” Raja M Shanmugham, president of Tirupur exporters' association, said in a press release.

Source : Timesofindia

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